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JSW One Platforms, a B2B e-commerce venture of JSW Group, has raised Rs 205 crore from Japan’s Mitsui & Co. The series A round valued JSW One at Rs 2,750 crore.
The company will use the funds to expand in new places like Delhi National Capital Region (NCR), Gujarat, Rajasthan, Madhya Pradesh, and Chhattisgarh. It will invest in credit, logistics, and technology to improve customer experience.
“We are excited about (Mitsui’s) experience of working in the B2B industry across various markets in the world. Their investment will help us penetrate deeper into the industrial and construction industries,” said Gaurav Sachdeva, chief executive officer of JSW One Platforms. “We also look forward to bringing other industry segments onto the platform and will continue to leverage technology to be an industry-leading platform for MSMEs.”
JSW Group, in January 2021, entered e-commerce to cater to India’s manufacturing and construction industries. JSW One Platform leverages JSW Group’s expertise in manufacturing and building materials, logistics technology and credit to serve MSMEs and other enterprises in India.
“Our investment and partnership with JSW One Platforms not only signals our belief in the firm’s robust business model, but also our conviction in the long-term growth prospects of the B2B e-commerce space, which was catalysed by the COVID-19 pandemic,” said Masaharu Okubo, Managing Officer, Country Chairperson in India of Mitsui & Co., Ltd.
“We look forward to working together to realize JSW One Platform’s strategic vision of becoming a key industry player in the region with our contribution for expanding supply source and wider product portfolio for targeting industry,” Okubo said.
The company launched its e-commerce platform jswonemsme.com in July 2021 and operates a turn-key home construction business called JSW One Homes.
